Tokinvest Bags Multi-Asset Licence, Sells Out World’s First Tokenised Racehorse

Tokinvest, a Dubai-based marketplace specialising in the tokenisation of real-world assets, has just ticked off three rather hefty milestones in one go. The company announced it has secured the first full multi-asset issuance licence from Dubai’s Virtual Assets Regulatory Authority (VARA), closed a $3.2 million pre-seed round, and—perhaps most eye-catching—sold out its debut tokenised racehorse. Quite the trifecta.

The VARA licence itself is a big deal. It gives Tokinvest the green light to issue and distribute tokenised assets under a robust regulatory umbrella, something only a handful of platforms can claim worldwide. As CEO Scott Thiel put it in a statement, the firm’s mission has been to make investing in these kinds of assets “as simple as buying a stock.” I reckon that’s a bold promise, but the early signals suggest it’s not just hot air.

That racehorse project, in partnership with New Zealand’s Evolution Stables, sold out entirely—making it the first of its kind in fractionalised sports investments. To see people buy into a racehorse through blockchain tokens feels a bit surreal, almost like crossing the finish line of tech and tradition. Alex Baddeley of Evolution Stables said the response was “phenomenal,” noting that it proved passion-driven investments could suddenly become accessible to a much broader crowd.

On the back of that, Tokinvest now aims to open up real estate investment opportunities that were usually locked away for the wealthy few. They’re teasing tokenised property assets next, with a so-called “Golden Hour” registration giving early backers first dibs before everyone else gets a look in. Other asset classes—commodities, funds, even bonds—are already in the regulatory pipeline. That said, it’s worth remembering that approvals aren’t instant; there’s still quite a bit of red tape to cut through.

Interestingly, the racehorse token ran on Polygon, a blockchain network that’s increasingly carving out a name in real-world asset (RWA) tokenisation. According to Polygon’s own figures, over $1.1 billion in RWAs are already locked on its chain. Aishwary Gupta, who heads up payments and RWAs for Polygon, described Tokinvest’s move as a milestone for regulated platforms bringing quality assets to global investors. Spot on, really.

Backing this flurry of activity is a $3.2 million pre-seed round. The money came in from a mix of VCs, family offices, and high-net-worth types, including Triliv Holdings and Exponential Science. Jigar Sagar of Triliv Holdings—who you might know from “The Final Pitch Middle East”—said the investment decision was about aligning with Dubai’s ambition to democratise premium assets. Having met a few early-stage founders in Dubai myself, I can say the city does have this knack for drawing in companies with a mix of boldness and regulatory seriousness that’s hard to match elsewhere in the region.

For those itching to get on board, Tokinvest’s waitlist is already live—though patience will be key, as these assets roll out gradually in line with approvals. And believe it or not, what seemed like a bit of a faff just a few years ago—buying slices of assets like horses or buildings via digital tokens—suddenly feels a lot closer to mainstream investing. I’m not a fan of hype for hype’s sake, but if Tokinvest delivers even half of what it’s promising, it could definately help democratise parts of the market that once felt out of reach for most everyday investors.

At Arageek, where we’ve long championed stories of startups breaking barriers in MENA, seeing a Dubai firm attempt to put the region at the centre of global tokenised investments is exactly the sort of thing that keeps us chuffed to bits.

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